the world. We also find that the Iranian economy adjusts quite quickly to the shocks in foreign output and oil exports …

be much larger than the impact of a shift in the global crude oil price expressed in US dollar. Furthermore, the effect …

industry analysts had anticipated. This tight oil boom reduced the dependence of the United States on petroleum imports and … allowed it to become a major exporter of gasoline and diesel fuel. Since mid-2014 the global real price of crude oil has … extent was the recent oil price decline caused by the tight oil boom? Second, how did the tight oil boom affect the price of …

, conventional linear models of price dynamics such as the Vector Error Correction Model (VECM) can lead to erroneous inferences … about cointegration relationships, price adjustments and relative values. We propose the use of regime-switching models to … address these issues. Our regime switching model uses price data to infer whether pricing is oil-driven (integrated) or gas …

We use the demise of silver-based standards in the 19th century to explore price dynamics when a commodity-based money … silver money. Calibration of the model shows that silver ceased functioning as a global price anchor in the mid-1890s - the … price of silver is positively correlated with agricultural commodities through the mid-1890s, but not thereafter. In …

pesticides are generally more stringent than under autarky. As a result, trade increases the price volatility of crops produced …

. Biofuels have been blamed universally for recent increases in world food prices. Many studies have shown that these energy … prices. However, biofuels may increase aggregate world carbon emissions, due to leakage from lower oil prices and conversion …